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How To Open Up Credit Union Accounts (When You Close Your Accounts With Big Banks)


Justin Samuels
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Many in Occupy Wall Street are signing up for Bank Transfer Day, a day in which they protest the policies of big banks and Wall Street by closing their accounts at them and transferring to credit unions.  Credit Unions are non for profit organizations whose membership (account holders are credit unions are technically buying into an organization) consists of people from a certain geographic area, a certain affiliation (such as university students, employees, or alumni, corporate employees, people working in a certain field, or members of certain organizations, including unions).

To find one, can simply google credit unions in your area.  Check out the credit union to make sure it offers all the services you want and go over its fee and minimum monthly balance, if it has one.   Opening up accounts are credit unions are just like opening up accounts at banks, accept one may have to present proof of affiliation or employment.   Once your accounts are open, its pretty easy to switch over things like direct deposit, bill pay, etc.  And credit unions offer lower interest rates on loans for things like credit cards, auto loans, personal loans.  There's no reason to support banks that charge account fees and debit cards fees to their customers, as these banks are making their customers poor instead of helping them save money.
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Screenwriter. Historian. BA in History and certificate in Latin American studies from Cornell University. MA in English Education from Columbia University. Very interested in public policy.

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